DUBAI: The UAE today convened a Mini-Ministerial meeting to discuss the World Trade Organisation’s (WTO) development and electronic commerce agenda ahead of the WTO’s 13th Ministerial Conference (MC13), which will be held from 26th to 29th February 2024 in Abu Dhabi.
Chaired by Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, the virtual meeting brought together 37 Ministers from WTO member countries to build consensus, promote constructive dialogue and advance progress on development and e-commerce moratorium matters, with the aim of ensuring positive outcomes during MC13.
Dr Thani Al Zeyoudi said, ‘As an engine for economic growth and development, facilitating e-commerce and harnessing its potential has become integral. At the same time, it is crucial to recognize the challenges faced by developing country Members, especially the world’s least developed nations. WTO members have an opportunity at MC13 to deliver meaningful outcomes for developing countries, while preserving regulatory certai
nty for electronic commerce, the fastest-growing segment of the global economy.’
The WTO’s 1998 moratorium on customs duties for electronic transmissions obliges Members not to impose customs duties on ‘electronic transmissions,’ which are generally — though not universally — understood as trade in intangibles like streamed multimedia. The moratorium continues to play a foundational role in the growth of cross-border digital trade by ensuring regulatory continuity for a sector valued at US$26.7 trillion in 2019.
The Ministerial Conference is the topmost decision-making body of the WTO and can take decisions on all matters under any of its multilateral trade agreements. MC13 is regarded as an important meeting for the Geneva-based trade body as its 164 Members seek to mitigate the growing challenges of supply-chain disruption, protectionism and climate change.
Source: Emirates News Agency